An investment company claims that the median age of people with mutual funds is 51 years. The

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An investment company claims that the median age of people with mutual funds is 51 years. The ages (in years) of 20 randomly selected mutual fund owners are listed below. At $\alpha=0.01$, is there enough evidence to reject the company's claim?

(a) identify the claim and state $H_{0}$ and $H_{a}$,

(b) decide which nonparametric test to use,

(c) find the critical value(s),

(d) find the test statistic,

(e) decide whether to reject or fail to reject the null hypothesis,

(f) interpret the decision in the context of the original claim.

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Elementary Statistics Picturing The World

ISBN: 9781292260464

7th Global Edition

Authors: Betsy Farber, Ron Larson

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Question Posted: May 05, 2024 09:01 AM

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An investment company claims that the median age of people with mutual funds is 51 years. The

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Elementary Statistics Picturing The World

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